DnB Asset Management AS Has $7.12 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

DnB Asset Management AS trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKEGet Rating) by 0.8% in the second quarter, Holdings Channel.com reports. The fund owned 128,193 shares of the utilities provider’s stock after selling 1,068 shares during the quarter. DnB Asset Management AS’s holdings in ONEOK were worth $7,115,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. PAX Financial Group LLC boosted its holdings in ONEOK by 1.3% during the first quarter. PAX Financial Group LLC now owns 13,622 shares of the utilities provider’s stock valued at $962,000 after purchasing an additional 169 shares in the last quarter. Coastline Trust Co boosted its stake in ONEOK by 2.7% in the 1st quarter. Coastline Trust Co now owns 6,570 shares of the utilities provider’s stock valued at $464,000 after buying an additional 175 shares in the last quarter. Sugarloaf Wealth Management LLC boosted its stake in ONEOK by 27.9% in the 1st quarter. Sugarloaf Wealth Management LLC now owns 820 shares of the utilities provider’s stock valued at $63,000 after buying an additional 179 shares in the last quarter. Hexagon Capital Partners LLC grew its position in ONEOK by 10.7% in the first quarter. Hexagon Capital Partners LLC now owns 1,916 shares of the utilities provider’s stock valued at $135,000 after acquiring an additional 185 shares during the period. Finally, International Assets Investment Management LLC raised its stake in ONEOK by 1.9% during the first quarter. International Assets Investment Management LLC now owns 10,318 shares of the utilities provider’s stock worth $729,000 after acquiring an additional 196 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Down 3.6 %

Shares of OKE opened at $60.22 on Monday. The stock’s fifty day simple moving average is $60.80 and its 200-day simple moving average is $63.54. The firm has a market capitalization of $26.91 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 2.15 and a beta of 1.68. ONEOK, Inc. has a 12-month low of $52.11 and a 12-month high of $75.07. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 2.11.

ONEOK (NYSE:OKEGet Rating) last announced its quarterly earnings data on Monday, August 8th. The utilities provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.02). The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.18 billion. ONEOK had a return on equity of 26.32% and a net margin of 7.37%. The business’s revenue for the quarter was up 76.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 earnings per share. As a group, research analysts predict that ONEOK, Inc. will post 3.71 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Monday, August 1st were issued a dividend of $0.935 per share. This represents a $3.74 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date was Friday, July 29th. ONEOK’s dividend payout ratio is presently 106.25%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their target price on shares of ONEOK from $81.00 to $74.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 20th. Barclays decreased their price objective on shares of ONEOK from $71.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. US Capital Advisors reiterated an “overweight” rating on shares of ONEOK in a research note on Wednesday, June 1st. Finally, Mizuho increased their price target on ONEOK from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, ONEOK currently has a consensus rating of “Hold” and a consensus price target of $68.42.

ONEOK Company Profile

(Get Rating)

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

See Also

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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